PPS Products: VCN

A complete end to end solution.

PPS, a joint venture between Mastercard and Edenred is a one-stop-shop for card and fintech programmes.
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We are entering a new era of banking. Different consumers have different needs and are shopping around for a more personalised service and additional features.

PPS’ alternative banking solution is a modern alternative to a traditional bank account, providing all of the banking basics with added value features and benefits to fit the changing lifestyles of your customers and help them manage their money.

A Virtual Card Number (VCN) is a 16-digit card number (PAN), expiry date and security code (CVC2) that can be used for a cardholder-not-present transaction. The VCN is prepaid with a load amount in a chosen currency, locking the exchange rate at the point of issue. They are digitally distributed and can be single use or reloadable.

A VCN can provide a simple and secure payment mechanism in a variety of situations from B2B supplier payments to eGifting and eCommerce.

Features

Virtual card with PAN, Expiry and CVC2

MasterCard VCN with global acceptance at 36M locations worldwide

Each card is linked to an Account where you specify value loaded, currency and spend rules

Load and reload in any currency. Variety of load options – debit/credit card, cash load network, bank transfers, prepaid corporate account, ACH settlement

Load can be managed on account opening or at any point before the VCN expiry

Set spend controls for each VCN (merchant where VCN can be used, date/time it can be used, what the VCN can be used to purchase)

Process Automation using API integration and automated reports

Friendly Support

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Benefits

Security – Limited load = limited spend. Chargeback protection from supplier defaults
Control – A wide variety of spend controls can be applied so the card can only be used for its intended purpose
Flexibility – Can be one time use or multiple use depending on requirements
Speed – With no plastic there are no delays. VCNs are digitally distributed and issued instantly
FX transparency – Set the FX rate and reduce expose to currency fluctuations
Increased revenue – Interchange rebates for every transaction
Reduce costs – Reduction in accounts payable resources
Better and Faster Reconciliation – Easily track from booking to payment with a unique number for every transaction. Transaction information is available immediately